In 1626 Peter Minuit purchased Manhattan Island from the Nat…
In 1626 Peter Minuit purchased Manhattan Island from the Native American Indians for about $24 worth of trinkets. If the Native American Indians had taken cash instead and invested it to earn 6 % compounded annually, how much would the Indians have had 300 years later? You can use your calculations from the last question. First, how much would they have in 1726, 300 years later? r = rate of interest P = amount paid n= number of periods